Chewy (NYSE:CHWY) Earns "Hold" Rating from Jefferies Financial Group

Jefferies Financial Group reissued their hold rating on shares of Chewy (NYSE:CHWY - Free Report) in a report released on Thursday, MarketBeat reports. The brokerage currently has a $43.00 price target on the stock, up from their previous price target of $41.00.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group upped their price target on Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Citigroup increased their target price on Chewy from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Royal Bank of Canada restated an "outperform" rating and set a $42.00 price target on shares of Chewy in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on Chewy and gave the stock a "hold" rating in a research note on Monday, April 14th. Finally, Wedbush reaffirmed an "outperform" rating and set a $39.00 target price on shares of Chewy in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Chewy Stock Performance

Shares of Chewy stock traded up $0.16 on Thursday, reaching $47.44. 6,006,381 shares of the company's stock were exchanged, compared to its average volume of 6,904,860. Chewy has a 52 week low of $19.75 and a 52 week high of $48.21. The firm's 50-day moving average is $38.17 and its two-hundred day moving average is $36.13. The company has a market capitalization of $19.62 billion, a P/E ratio of 52.14, a price-to-earnings-growth ratio of 2.21 and a beta of 1.69.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the firm posted $0.07 EPS. The business's revenue was up 15.0% compared to the same quarter last year. On average, analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 8,552 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the sale, the chief executive officer now owns 62,096 shares of the company's stock, valued at $2,070,901.60. This trade represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Reeder sold 7,863 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total value of $286,999.50. Following the sale, the chief financial officer now directly owns 11,582 shares of the company's stock, valued at approximately $422,743. This trade represents a 40.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 236,046 shares of company stock worth $9,387,635. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. Mutual of America Capital Management LLC acquired a new stake in shares of Chewy in the fourth quarter valued at $2,915,000. Raymond James Financial Inc. acquired a new stake in shares of Chewy in the fourth quarter valued at $69,789,000. Polar Asset Management Partners Inc. grew its stake in shares of Chewy by 26.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock valued at $9,670,000 after buying an additional 60,533 shares in the last quarter. Birch Hill Investment Advisors LLC acquired a new stake in shares of Chewy in the fourth quarter valued at $1,174,000. Finally, Interval Partners LP acquired a new stake in shares of Chewy in the fourth quarter valued at $1,536,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.